The project is to be established in the Indian state of Gujarat near the growing city of Rajkot. It is anticipated that the project will be completed by the end of the year.
Martifers partner in the endeavor, Louroux Bio Energies, is a new Indian renewable energy company, which aims to be involved in the installation of 100 MW of solar electricity generation capacity over three years. This project with Martifer Solar is its first. The Indian solar industry has been kick-started by the national governments Jawaharlal Nehru National Solar Mission (JNNSM), which was launched in late 2009. The JNNSM set a target of 22,000 MW of solar energy capacity by 2022.
The solar industry in India needs both expertise and capital to realize its potential, according to accounting firm KPMG. Last week they released a report into the Indian solar industry illustrating the room for growth in all aspects of the industry from manufacture through to finance and installation. However to reach this goal, expertise in the industry must be developed and Martifer Solars entrance into the market can be seen as a step in this direction.
Martifer Solars Expansion Director Gustavo Fernandes, in a statement to pv magazine, outlined how the Spanish solar company will bring their experience to India to fill this void. "India is a country with excellent solar opportunities, but its market is still quite young and they need to acquire more experience." Fernandes added, "Louroux is our local partner and adds their extensive local experience to Martifer Solars international expertise, know-how and technical skills, so we have created a really accomplished team."
Announcing the partnership on the Gujarat project, Lourouxs Managing Director Ravi Agrawal commented on the expertise Martifer Solar brings to the project and Indian industry. "Our tie up with Martifer Solar is a major step for the successful realization of this plant. Their international experience, with more than 130 MW installed worldwide, confirms that they are the best partner for our solar project."
Martifer Solar is an anticipated to build on the partnership with Louroux to include other projects. "For Martifer Solar the Indian market is currently one of the more promising PV markets all over the world. India has a huge solar radiation potential and its domestic electrical consumption is growing very fast, making the country a really attractive site for PV development," Fernandes told pv magazine.